Amazon has passed Google and Apple to become the world’s most valuable brand at $315.5 billion, according to a ranking of international businesses, up 52% on last year. Both tech firms had previously held the top places for the previous 12 years.
Apple’s brand value rose 3% in the last year to $309.5 billion, while Google’s earnings grew 2% to $309 billion, found Kantar, a unit of advertising agency WPP. Doreen Wang, Kantar’s global head of BrandZ, said Amazon’s leap was due to its own acquisitions, customer service and keeping a diverse collection of services and products.
“Amazon’s phenomenal brand value growth of almost $108 billion in the last year demonstrates how brands are now less anchored to individual categories and regions,” Doreen Wang, stated in online representation. Amazon has relentlessly used data-driven insights to create streamlined and personalized experiences for its clients, such as by rolling out one-day shipping for Prime members.
Amazon has been raising investments in a range of businesses as its core business slows, such as self-driving automobile startup Aurora and electric truck company Rivian, as well as expanding Amazon Air, its airplane business.
BrandZ’s list connects measures of brand equity based on interviews with over 3 million consumers about tens of thousands of brands, with an evaluation of each company’s business and financial performance, using information from Kantar Worldpanel.